Eternity Law International — News — APIs in the UK

APIs in the UK

Published:
October 26, 2022

We can assist you in gaining the UK Authorized Payment Institution License if you desire to propose various options for clients such as funds transfers, processing of payments, or supplying opening accounts.

UK government’s API and Ordinances

The corporation is obligated to receive a permit from the FCA to process payments as an API in the UK.

You must also apply for an MSB permit with HMRC if you provide funds transferring or currency exchange services.

The EU Directive known as PSD2 lays forth specifications for companies-service providers. It extends to clients of banks, building organizations, payment providers, and EMIs.

Payment institutions are also subject to the next laws:

  • Revised Payment Services Directive (PSD2)
  • Payment Accounts Directive
  • Credit transfers and direct debits in euros (SEPA)
  • The Payments in Euro (Credit Transfers and Direct Debits) Regulations
  • Data Protection Act
  • Guide to the UK General Data Protection Regulation (UK GDPR)
  • Proceeds of Crime Act (POCA)
  • Terrorism Act
  • Decree on interchange fees for card-based payment transactions (EU) 2015/751
  • AML Regulations

How can I obtain a UK API License?

To obtain permission, the points taken from the FCA website must be completed:

  • The enterprise running activity in the UK and has a headquarter, you are a corporate entity.
  • You regulate money laundering, terrorist funding, and other financial criminalities by effective internal rules and authority systems.
  • You have an enterprise strategy and have taken the essential precautions to protect the cash of payment service clients.
  • Executives and managing staff require to have a solid reputation and the necessary qualifications.
  • Management needs to have a clear record of crimes including money laundering or terrorism funding.
  • Employers and workers have to be appropriate for their jobs, and if they have close relations with another individual, it cannot jeopardize the ability to effectively oversee the firm.

Needed Data

For enrollment, you must provide the following information with the request form, which you send via Connect:

  • services that you wish to provide;
  • inner managing structures;
  • the initial funding needed to launch your firm at the necessary level under the legislation;
  • your intentions to open a bank account in the UK or EEA;
  • the individuals in charge of conducting services;
  • any representatives who work with you;
  • your stance on security;
  • info on the oversight procedures to fulfil your duties.

To deal with API Registration, we recommend getting in touch with our commercial experts.

Please contact us to get more information.

You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.

You could be interested

Subscriber legal service

Subscriber legal service. Subscriber legal service is the provision of assistance in legal matters to entrepreneurs and organizations. Here the client can receive advice, preparation of documents, legal support in courts and government bodies, as well as answers to legal questions at any convenient time in writing or orally. Eternity Law International offers clients legal...

Choosing a bank to open an account

SELECTING A BANK FOR OPENING AN ACCOUNT FOR A BEGINNING BUSINESSMAN Choosing a bank to open an account is one of the first steps for every startup. The most important stage for each startup is to create, think through and correctly draw up a financial plan. A good business plan can attract investors and allow...

High-risk businesses payments processing

One of our specialties is High-risk payment processing. We serve high-risk merchant companies with the help of international banking partners and a wide range of opportunities for establishment of offshore systems. Today we are service providers for almost any high-risk business. Our company offers high-risk payment gateway to high-risk businesses in the following areas of...

Company registration Anguilla

The cost of registration 1 640.00 EUR The cost of renewal 1 600.00 EUR Number of Directors 1 Corporate tax 0.00% Paid up capital 0.00 Requirements for mandatory reporting No General information about the offshore company in Anguilla Company type – International Business Company (IBC)Timeframe for company registration – from 2 to 3 daysThe Anguilla...

Company registration in Czech

Czech takes a leading role in the organization of international trading operations. In addition, this jurisdiction has the status of an advanced state in terms of ease of organizing and managing commercial projects, and obtaining loan funds. That’s why, company registration in Czech is a modernized profitable solution becoming the key for an entrepreneur to...

5 Best Jurisdictions for Gaming License

The global gaming market was estimated at $231.34 billion in the last year, and it is anticipated to reach a value of $353.35 billion over the next five years, registering a CAGR of 6.96% during the forecast period. As the industry grows at an unprecedented rate, this is the right time to join the profitable...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360